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September 18, 2009
Statistics
KSE-100 Index
Previous Index 9,137.06
Current Index 9,223.39
Change % 0.94%
YTD (CY09) 57.30%
YTD (FY10) 28.80%

International Indicators
  Close %age
BSE-30 16,711.11 0.20%
HANGSENG 21,768.51 1.71%
NIKKEI 255 10,443.80 1.70%
FTSE 5,163.95 0.80%
DJIA 9,783.92 (0.08)%
SSEC 3,060.26 2.02%
NASDAQ 2,126.75 (0.30)%

SCRA
Sept 16, 2009 (0.128)
Sept 2009 127.492
YTD 198.543

Money Market Updates
6m T-bill (Sep 09, 2009) 12.78%
12m T-bill (Sep 09, 2009) 12.48%
3m KIBOR 12.60%
6m KIBOR 12.67%
10 yrs PIB 12.51%

Exchange Rates
Inter-Bank Currency Rates
Rs/EURO 122.08
Rs/UK 136.69
Rs/US 82.97
Rs/OR 216.31

Commodities
Oil $72.19/barrel
Oil Change in % (0.39)%
Gold $1,014.40/ounce
Gold Change in % 0.09%

Inflation
CPI Gen. - YoY (Aug 09) 10.70%
CPI Gen. - FY10 (Jul -Aug 09) 10.90%
NFNE Core INFL - YoY (Aug 09) 12.60%
NFNE Core INFL - FY10 (Jul-Aug 09) 13.30%

Economic Indicators
GDP Growth FY10E 2.00%
Per Capita Income $1,046
Population 167.34mn
US$ Reserves (Sep 05, 2009) 14.24bn
Trade Deficit (Aug 09) $(2.19)bn
Curr. A/C (Jul 09) $(606)mn
Remittances (Jul -Aug 09) $1.53bn
Foreign Investment (Jul 09) $195.6mn
All Sch. Banks Deposit Base (Sep 12, 2009) Rs.4,125bn

NAVs and Returns
as of Sept 17, 2009
Funds Offer Redemption
POBOP 51.9670/- 51.4473/-
Daily Return 8.89%
POAIIF 52.6469/- 52.1204/-
Daily Return 7.63%
POAIF 55.65/- 54.26/-
Daily Return 141.81%
POASF 56.15/- 54.75/-
Daily Return 113.69%
POAF 11.0975/-
Daily Return (33.69)%
*Daily Returns are calculated as per MUFAP guidelines

Funds Rating
AMC Ratings AM3+
POBOPAPF Fund Stablility Rating A(f)
POAF Fund Rating AA-
Economy

Pakistan's foreign reserves increase by some $117.7 million
The country's foreign reserves surged by around 117.7 million dollars during the last week. The State bank of Pakistan on Thursday informed that the country's foreign reserves increased to 14.36 billion dollars during the week ended September 12, 2009 as against 14.243 billion dollars a week earlier more... (BR)

ADB approves $780 million loan for energy projects
The Asian Development Bank (ADB) is extending $780 million to Pakistan through a multi-tranche financing facility for priority energy efficiency projects that will secure the country's growing energy needs and reduce its reliance on costly, polluting fossil fuels, said Bayanjargal Byambasaikhan, energy specialist with ADB's Central and West Asia Department more... (BR)

Current account deficit down by 80 percent to $527 million in July-August
The country's current account deficit dipped by 80 percent during the first two months of current fiscal year, mainly due to heavy home remittances sent by expatriate Pakistanis and decline in trade deficit. The State Bank of Pakistan said on Thursday that country's current account deficit declined by 2.149 billion dollars to 527 million dollars during July-August as compared to 2.676 billion dollars during the corresponding period of last fiscal year more... (BR)

Politics

Obama to co-host Friends of Pakistan summit
The upcoming meeting in New York will feature 20 heads of state, government and multilateral financial institutions more... (D)

Settling issues with India: backdoor diplomacy may be used, says Foreign Minister
Foreign Minister Shah Mehmood Qureshi has said that the vitality of the backdoor diplomacy could not be overlooked and it might be used if found in national interest. Talking to newsmen prior to his departure to US to attend UN General Assembly Session, Qureshi admitted that the back channel diplomacy was used for the negotiations with India during General Pervez Musharraf's (Retd) regime, which would again be adopted if needed in future more... (BR)

‘US to boost Pakistan's counter-terror capabilities'
The Obama administration has set objectives for countering Al Qaeda in Pakistan and Afghanistan, from boosting Islamabad’s counter-insurgency capabilities to building up Afghan security forces so US assistance can be reduced, according to an internal document obtained by Reuters on Wednesday more... (D)

Sector Briefing

Mauritius co to buy 290.7mn AHBL sharesShareholders to get Rs3/share after the deal
The agreement to sell Arif Habib Bank Limited (AHBL) shares to a Mauritius company will be put in action by October 15, Chairman Arif Habib Group, Arif Habib told The Financial Daily here Thursday. According to an AHBL notice issued to Karachi Stock Exchange (KSE), Suru Private Limited, a Mauritius company, will purchase 290.7 million shares of the Pakistani bank more... (FD)

Gas supply to Guddu TPS from MGCL: Pepco and Ministry lock horns
Pakistan Electric Power Company (Pepco) and Petroleum Ministry have locked horns over the allocation of gas to Thermal Power Station (TPS), Guddu, in lieu of 110 mmcfd gas from Mari Fields, which will now be supplied to Fatima Fertiliser Company Limited (FFCL), sources close to Pepco Managing Director Tahir Basharat Cheema told Business Recorder on Thursday more... (BR)

Profit after tax of Millat Tractors raised to Rs 1,215.120 million
The profit after tax of Millat Tractors Limited has increased to Rs 1,215.120 million in the year ended June 30, 2009 (FY09) as compared to Rs 810.468 million earned in FY08. The earning per share of the company surged to Rs 51.87 in the period under review against Rs 34.59 in the same period a year back. The board of directors of the company in its meeting held on Thursday recommended a final cash dividend for the year at Rs 25 per share, ie 250 percent more... (BR)

(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily
Research Team:
Shoaib Ali Khan
Department Head
Shayan Hasan
Research Analyst
  Imran Altaf
Research Analyst
Faizan Ahmed
Research Analyst
  Faiz Malik
Database Manager

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Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon. Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission.